Bitcoin hits highest in 13 months
A Bitcoin (virtual currency) coin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. PHOTO: REUTERS
Bitcoin jumped to its highest in over a year on Monday, adding to a 2020 rally that has seen it more than treble in price since March.
The biggest cryptocurrency gained 4.4% to $12,424, its highest since July 2019. Bitcoin has soared over 70% this year, making it one of the strongest performing assets.
Pakistani researchers among winners of Facebook misinformation project
Plummeting interest rates and huge bond-buying programs by central banks across the world have boosted demand for the cryptocurrency, seen by some investors as a hedge against inflation due to its capped supply.
Recently, the US Justice Department took down efforts by the military wing of Hamas, al Qaeda, and Islamic State to raise funds via cryptocurrency through schemes that included selling bogus Covid-19 safety equipment to the US hospitals.
Instagram kept deleted photos and messages on its servers for more than a year
Officials told reporters that they seized about $2 million during the largest-ever US move against the use by militant groups of cryptocurrencies. Authorities also seized more than 300 cryptocurrency accounts, four websites, and four Facebook pages said authorities.
The website collected payments via PayPal and US credit cards, but never delivered any equipment, investigators said. They said Al Qaeda solicited donations for its scheme via the Telegram app.